European shares rebound on soft US jobs data, ECB decision in focus
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 05 2024
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Source: reuters
- European Shares Gain: European shares rose on Wednesday following positive global sentiment, driven by expectations of a rate cut from the Federal Reserve and ahead of the European Central Bank's rate decision.
- Market Performance: The pan-European STOXX 600 rebounded by 0.5%, with most sectoral indexes trading higher, particularly retail and technology sectors.
- Company Performance: Zara-owner Inditex saw a 4.7% jump in its stock price due to better-than-expected trading numbers, while WH Smith advanced 3.7% on strong travel demand expectations.
- ECB Rate Decision: Investors are focused on the ECB's interest rate decision expected on Thursday, anticipating a 25 basis points cut from the current record levels.
- Euro Zone Business Activity: Euro zone business activity expanded at its quickest rate in a year in May, with growth in services outpacing contraction in manufacturing.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
